ID :
197819
Thu, 07/28/2011 - 10:06
Auther :
Shortlink :
https://oananews.org//node/197819
The shortlink copeid
SK Innovation to join China's solar project
SEOUL, July 28 (Yonhap) -- South Korea's top oil refiner SK Innovation Co. said Thursday that it has signed a deal with Chinese and Taiwanese energy firms to cooperate in the joint development of a solar energy storage system.
Under the deal with China's Himin Solar Energy Group and Taiwan's Formosa Plastic Corp., SK Innovation will jointly develop a system to store solar energy for the northwestern Chinese city of Dezhou, the South Korean company said.
SK Innovation did not disclose further details of the agreement.
The Chinese government has designated Dezhou with a population of 5.8 million as a "solar city" in line with its efforts to boost the city's use of solar energy to more than 50 percent in a decade.
SK Innovation said the deal will help it tap into the Chinese renewable energy market.
"SK Innovation was credited with its outstanding technology in electric car batteries and its experience in smart grid projects," SK Innovation said in a statement. "As the solar energy market is growing rapidly, we will aggressively invest in the sector and gain an early edge."
SK Innovation is well known for developing batteries for electric vehicles, as it completed a battery plant in a central region in South Korea last year and is building another one on the west coast.
Shares of SK Innovation closed up 0.45 percent at 222,500 won (US$211.60) on the Seoul bourse.
Under the deal with China's Himin Solar Energy Group and Taiwan's Formosa Plastic Corp., SK Innovation will jointly develop a system to store solar energy for the northwestern Chinese city of Dezhou, the South Korean company said.
SK Innovation did not disclose further details of the agreement.
The Chinese government has designated Dezhou with a population of 5.8 million as a "solar city" in line with its efforts to boost the city's use of solar energy to more than 50 percent in a decade.
SK Innovation said the deal will help it tap into the Chinese renewable energy market.
"SK Innovation was credited with its outstanding technology in electric car batteries and its experience in smart grid projects," SK Innovation said in a statement. "As the solar energy market is growing rapidly, we will aggressively invest in the sector and gain an early edge."
SK Innovation is well known for developing batteries for electric vehicles, as it completed a battery plant in a central region in South Korea last year and is building another one on the west coast.
Shares of SK Innovation closed up 0.45 percent at 222,500 won (US$211.60) on the Seoul bourse.
